Operating through 19 companies, Aksoy sold fake Cisco products valued at over $1 billion from 2013 to 2022. The scheme involved distributing counterfeit networking gear on online platforms like Amazon and eBay. The fake equipment infiltrated critical infrastructure, including sensitive US government systems used by the military, schools, and hospitals. Despite detection in 2014, Aksoy continued his fraudulent activities, sourcing supplies from Chinese vendors. The sentencing includes a $100 million restitution payment to Cisco and other victims. Cisco’s challenges with counterfeit operations have been compounded by disruptions in its supply chain, leading to recent layoffs affecting approximately 5% of its global workforce.
The sentencing of Onur Aksoy sheds light on the pervasive issue of counterfeit products infiltrating critical infrastructure and jeopardizing national security.
This story is from the May 04, 2024 edition of The Business Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 04, 2024 edition of The Business Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
DELHI HIGH COURT ORDERS MEDICAL EVALUATION OF LALU YADAV'S AIDE AMIT KATYAL HAULED UP IN PMLA CASE
The Delhi High Court in the case observed and has constituted a medical board of AIIMS to evaluate the condition of RJD chief Lalu Prasad Yadav's close aide Amit Katyal, who is in custody in a money laundering case which relates to the alleged land-for jobs scam case.
SC Collegium Recommends Appointment Of 2 Additional Judges Of The Gauhati High Court As The Permanent Judges
The Supreme Court Collegium has recommended appointment of two Additional Judges of the Gauhati High Court as the Permanent Judges.
Meet Maulik Patel, cancer survivor who scored 715/720 in NEET UG 2024 on first attempt
Despite battling advanced cancer, Maulik Patel from Mumbai's Ghatkopar achieved an impressive score of 715 out of 720 in his first attempt at NEET UG 2024.
Mumbai police issues statement on incident involving Raveena Tandon
The Mumbai Police issued a statement on Sunday regarding an altercation outside actor Raveena Tandon's residence on Saturday night, sparked by a minor parking issue.
'He has no involvement': Aaditya Thackeray attacks Shinde over Coastal Road project
Shiv Sena (UBT) leader Aaditya Thackeray on Monday took a jibe at Maharashtra Chief Minister.
Sri Satya Sai multi-religious mass marriage ceremony in held in Yavatmal
In an extraordinary celebration of unity and communal harmony, the Satchikitsa Prasarak Mandal Yavatmal, in collaboration with the Hrudaya Spandana Sri Sai Meru Mathi Trust, Bangalore, successfully hosted a multi-religious mass marriage ceremony on the afternoon of 9th June.
Congress delegation meets state governor
A delegation of the Congress party led by the party's state president, Nana Patole, met Governor Ramesh Bais on Tuesday evening.
SHIV SENA HOLDS MEETING OF MLAS TO STRATEGISE ON UPCOMING ASSEMBLY POLLS
Shiv Sena held a meeting of all its MLAs at Maharashtra Chief Minister Eknath Shinde's residence on Monday.
BRICS ministers, G20 remains top stage for global economic cooperation
The Foreign Ministers of the BRICS nations have reiterated the pivotal role of the G20 as the foremost platform for international economic cooperation, emphasizing that it should continue to operate effectively.
Concerns rise over China coast guard's enforcement practices
The China Coast Guard (CCG) is far more than a maritime law enforcement agency.
